Bear Market : Buying Time

Hello,

The bear market is always a difficult period to get through, especially when it's the first one you've experienced.

The market that was in a Bull cycle turns around and enters a Bear cycle, taking us from euphoria to fear.
And this extreme fear pushes some to exit the market completely, even at a loss...

Human greed and folly is always present and trust in human relationships is complicated.
So much so that we need to put in place more automated systems to avoid "human errors" or rather in many cases human corruption.

I really started to get interested in bitcoin at the beginning of 2017.
But I had no money to invest being unemployed but I had time and I had started building my crypto portfolio with faucets and ptcs.
Now I do not have enough time but a bit more money because I have been working for almost 2 years.

So I have some money to invest. And I continue to do a few faucets regularly but much less than before.
I had sold for $700 of BTC between $38,000 and $52,000 and I had already bought back for $600 between $22,000 and $17,000 on binance.
In fact I only took my profits in Bitcoin on these trades since my goal was to be able to accumulate a little more Bitcoin.
I still have a $100 buy order open for Bitcoin at $14,500 on Binance.

I have also transferred money to other platforms and have already bought 200 euros worth of Bitcoin (around $19,150).
And recently I placed other $100 buy orders for Bitcoin at $11,500, $12,500, $13,500, $14,500, $15,500, and $16,500.

As a result, I am ready for the rest of the events whether it is downward or upward.
Patience is often rewarded. We still have the whole of 2023 to go before eventually regaining hope in a possible next bull cycle which should follow the next halving in 2024.
But since uncertainty is the strength of the markets, I simply prefer to buy in the bear market and sell in the bull market.
Because if we have reasons to think that Bitcoin can go down to $15,500 or lower, the market can find reasons to start a bullish rally or a (mini) alt season.

In fact, "I've been on the train" ever since I started holding Bitcoin or other cryptos.
I have bitcoin addresses on my hardware wallet trezor and on other wallets like trustwallet, electrum, etc.
About 60% to 70% of my crypto funds are in personal wallets just for holding and the rest is split between different platforms.

As I said, I have much less time available because I work, so I have less time to devote to my crypto activity.
So I missed a lot of opportunities without going into details. I also started sorting out what I had done since 2017 and reorganizing my strategy at the start of the Bear Market.
As a result, I just sold in the high part to buy back in the low part, taking little risk. I'm more into long-term investing.
On the other hand for this bear market, I will have a little funds to invest something that I did not have in the bear market of the previous cycle.
And with hindsight, I don't regret having done lots of faucets and ptcs, doing hundreds of captchas a day because if I hadn't done it, I might never have entered the crypto market.
As I don't regret starting my blog on publish0x to be able to share my experience in this crypto adventure while earning some crypto.

I closed my FTX account over a year ago because I didn't have the cash to start building an FTX portfolio and I wasn't very interested in the platform that promoted derivatives of the finance.
I prefer to buy and sell spot. I prefer to own what I buy or sell. It is more in line with my personality as an investor and trader ("amateur").

It would be easy to argue about the fact that my funds which are on centralized platforms are not really mine especially in this context.
But my risk sharing plan when I started my crypto adventure has always been a big part held in personal wallets and the rest divided into different platforms for staking and trading.
I saw a lot of scams during the previous cycle and I lost money by testing different sites and different ways to earn money on the internet or simply by making mistakes.
But maybe I'm too optimistic to want to think : fortunately, there must be a few entrepreneurs, a few people who are at least trustworthy.
Personally, I haven't made any withdrawals on the centralized platforms that I use because I have not felt the need to do so.
I can't yet switch to full decentralization using only Dex. This is a step that I am considering later when I have time.
But I think I would still use some Cex especially if they can prove to us that we can trust them because I think they will have their role to play in the economic transition that we are going through.

I make the plan that suits me that I can always adjust, improve, adapt according to what I know and what I have yet to discover.
Because I start, I try, I learn in this economic jungle made of many new and old rules and tools.
In a context created by the balance of power between different powers limited in the fields of their possibilities.
And for matters over which we individually have no real control, whether for personal gain or not.

The crypto movement has grown in this latest cycle. Too bad that this adoption has been violently curbed due to recent scams.
I hope that all the victims will be able to turn the page and I wish you all happy holidays for this month of December.

This is not investment advice. And the possibility that I'm wrong is also to be taken into account.
The crypto market is young, volatility is high, do your own research and measure the risks before making a decision.

Do you buy ? or do you wait ?

Thanks for reading my post and happy earnings :)

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